Building Details

Year Built 2005

Buildings 1

Stories 3

Building Size 38,016 SF

Listing Agency: SVN Efird Commercial Real Estate Show Phone

Listed By: Frank Efird · License ##106541 Show Phone

Source: Moodyscre

Added: Jul 27 Changed: Oct 16 Last Checked: Oct 19 at 8:11AM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SVN Efird Commercial Real Estate

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Investment Insights

Based on property information with market context.

Unit 204 comprises 1,293 square feet within Waterford Medical Center, a three-story Class A commercial building. The property is identified as a medical office space and is positioned within a professionally maintained environment suitable for medical or professional use as described in the listing.

The building contains 38,016 square feet and was originally constructed in 2005. Located at 509 Olde Waterford Way in Leland, North Carolina, the property provides a dedicated unit within an established multi-story commercial center.

Key Highlights

• 1,293‑square‑foot Unit 204
• Located within a 38,016 SF, three‑story Class A building
• Building originally constructed in 2005

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$16,421

Cap Rate

3.57%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$328,420 $328.4K

Cap Rate 7%

$234,586 $234.6K

Cap Rate 9%

$182,456 $182.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,293 SF

Gross rent

$27.0K $20.88/SF

− Vacancy

−$5.1K −$3.95/SF

EGI

$21.9K $16.93/SF

− OpEx

−$5.5K −$4.23/SF

NOI

$16.4K $12.70/SF

Area

Brunswick County, NC

Vacancy

18.90%

Lease Rate

$20.88 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$328,420

Cap Rate 7%

$234,586

Cap Rate 9%

$182,456

Alternative Uses

Best Use

Office B

$234.6K

$205.3K – $273.7K (±1% cap)

NOI $16,421 @ 7.0% cap · market cap 3.57%

Second Best

Healthcare Medical

$156.3K

$136.7K – $182.3K (±1% cap)

NOI $10,939 @ 7.0% cap · market cap 2.38%

Theoretical Best

Multifamily LT 5

$15.83M

$13.85M – $18.47M (±1% cap)

NOI $1,108,242 @ 7.0% cap · market cap 240.92%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Medical Office Space

Suggested Use

Top Pick Big Box & Wholesale Store Law Firm Building Supply Garden Center Kitchen & Bath Showroom Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

761

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 28451, NC

39,025

Population

19,672

Households

2

Avg Household Size

48

Median Age

34%

College-Educated

92%

High-School Grad

172.2 sq mi

ZIP Area

227

Density / Sq Mi

$77,380

Median Household Income

$41,164

Median Earnings

$1,465

Median Rent

$315,300

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Medical Office Space - Unit 204 offers a professional setting within a three-story Class A medical center.

Where is this medical office space located?

The property is located at 509 Olde Waterford Way Unit 204 Leland, NC.

What is the asking price?

The asking price for this property is $460,000.

What are key features of this property?

This property features: 1,293‑square‑foot Unit 204; Located within a 38,016 SF, three‑story Class A building; Building originally constructed in 2005